The Shiba Inu token (SHIB) experienced a failed breakout attempt at the $0.000014 level, leading to a trend reversal and potential downward decline. The rejection caused a series of sell-offs, indicating a bull trap. SHIB's inability to rise above its moving averages and hold above the $0.000014 resistance level suggests a bearish outlook. Immediate support is found at $0.000013, with the possibility of further decline towards $0.000012. If bearish pressure increases, SHIB could test the $0.00001150 support level, potentially leading to a steeper decline. The RSI indicator shows weak buying pressure, while decreasing volume suggests waning investor interest. Traders should be cautious as SHIB's bearish trajectory continues, with a higher chance of downside if key resistance levels are not quickly recovered.



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